Chennai-based chai retail chain Chai Kings has raised $3 million (₹24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT).
Previously, in January 2020, the tea brand secured $1 million in a seed round backed by Chennai Angels (TCA), Hyderabad Angels, and TiE India Angels. As part of the latest round, The Chennai Angels (TCA) are making a partial exit, realizing substantial returns.
The newly acquired funds will be utilized to accelerate expansion, enhance product offerings, and strengthen supply chain operations. Additionally, the company plans to invest in customer engagement initiatives and operational efficiencies to scale its business.
Founded in 2016 by Jahabar Sadique and Balaji Sadagopan, Chai Kings has positioned itself as a premium chai brand, offering a diverse selection of hygienic, high-quality tea blends with an emphasis on sustainability and customer experience.
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The company currently operates 57 stores across Chennai, Hyderabad, and Coimbatore. With a focus on sustainable packaging and a customer-centric approach, Chai Kings expects to close FY25 with a revenue of ₹48 crore and a positive EBITDA.
Looking ahead, the brand aims to double its revenue within the next two years while maintaining profitability.
